Office of Financial Aid

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Students

Troy University is committed to providing exceptional service to students and their families who apply for financial assistance. The Office of Financial Aid offers a variety of services and programs designed to help you find ways to meet the costs of education. We want you to succeed at Troy University.

2024-25 FAFSA® Simplification

The 2024-25 Free Application for Federal Student Aid (FAFSA®) ushers in the biggest changes made to the aid application in generations.
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College Financing Plan

Troy University has agreed to voluntarily commit to using a version of the Department of Education's College Financing Plan so consumers can easily compare institutions and make informed decisions about where to attend school. This is a sample of the information that will be provided on your financial aid package. One version is specific to Undergraduate students and one is for Graduate/Professional students. 

UNDERGRADUATE GRADUATE

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Is the Cost of College Worth It?

For as long as most of us can remember, the idea of attending college and earning a bachelor’s degree after high school has been a logical next step on the way to achieving a fulfilling professional career and personal success. But in recent years, the changing higher education landscape has left some students and families questioning the value of a degree relative to the cost of attending college.

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Financial Aid FAQs

Your first step, before requesting financial aid, is to apply for admission to Troy University. To apply for financial aid, you will need to have an FSA ID, which can be obtained from fsaid.ed.gov. After those criteria have been met you will then be ready to complete and submit your FAFSA (Free Application for Federal Student Aid). 

Students must fill out the Free Application for Federal Student Aid (FAFSA) every award year. You can apply online or complete the paper application after January 1st for an award year.

Carefully read and follow all the instructions on the form. If you apply online, use your PIN to electronically sign and submit your application. Use Federal School Code Number 001047 for all Troy University campuses and locations. Financial Aid is never renewed automatically.

If you have questions about completion of the FAFSA, making corrections, or adding Troy University to an existing FAFSA, call 1-800-4-FED-AID. Upon receipt of the FAFSA, if you are admitted, you will be sent a paper and an e-mail Missing Information Letter (MIL). 

For a list of important financial aid dates, please check the Financial Aid Calendar or the Priority Dates/Deadlines.

After you have applied for aid you will need to monitor your TROY email for updates and requests that may come from the Financial Aid office (troyfinancialaid@troy.edu). Please send any requested documents to us via email from your TROY account. Throughout the process you should check the status of your financial aid.

When you have submitted your application for admission and we have received all requested documentation, your application for financial aid will be reviewed.

If you applied for financial aid prior to applying for admission you should e-mail the Financial Aid Office after you submit your admission application.

  • A missing information letter will be sent to you upon receipt of your FAFSA with further instructions by e-mail and by postal mail.
  • We may request additional information from you based on the counselor's review of your application.
  • Respond to these requests as quickly and accurately as possible to avoid delays in processing your application.

After you have been awarded financial aid, and successfully responded to your financial aid offer, you will need to complete the Entrance Counseling and the Master Promissory Note (the Entrance Counseling and Promissory Note are only required if you are accepting loan funds) at studentaid.gov. Disbursements are released within 24-48 hours after the final day to drop/add classes each semester or term. Any refunds will be sent within 2-3 business days after aid has been disbursed to the school.

Yes. If you want an estimate of financial aid prior to applying for either admission or financial aid, you may use an expected family contribution (EFC) financial aid calculator. You will need to provide information on your household size, number of household members attending college, and income and asset information for yourself, and if you’re filing as a dependent student, for your parents as well.

Although your FAFSA (Free Application for Federal Student Aid) can be sent to several colleges and universities by adding each school code to the application, your awards may vary between institutions. Your award at Troy University cannot be transferred to another institution, and if you decide not to attend Troy University, you should contact Financial Aid to cancel your award.

If you have questions about completion of the FAFSA, making corrections, or adding Troy University to an existing FAFSA, call the Federal Student Aid Information Center at 1-800-4-FED-AID

The Office of Financial Aid administers all major aid programs, including grants, scholarships, loans, work-study, and Veterans benefits, at Troy University and strives to ensure access to educational opportunities for those in greatest financial need. There are aid programs available for undergraduate students and graduate students, and both on-campus students and online students. Some colleges and campuses award their own scholarships and may require a separate application.

The  Expected Family Contribution (EFC) on your Student Aid Report (SAR) is a measure of your family’s ability to pay for college. The financial aid office establishes a Cost of Attendance (COA). The COA includes tuition, fees, estimated living expenses, and books and supplies. Financial need is an official term for how much need-based financial aid you’re eligible for. Your financial need is calculated by subtracting the EFC from COA.

To put it simply, the equation is used is:

COA – EFC = Financial Need

In order for you to receive need-based aid, your Cost of Attendance must be greater than your Expected Family Contribution.

If your parents are separated or divorced, the custodial parent is responsible for filling out the FAFSA. The custodial parent is the parent with whom you lived the most during the past 12 months. If you did not live with one parent more than the other, the parent who provided you with the most financial support should fill out the FAFSA. This is probably the parent who claimed you as a dependent on his or her tax return. If you have not received any support from either parent during the past 12 months, use the most recent calendar year for which you received some support from a parent or lived with either parent. Note, however, that any child support and/or alimony received from the non-custodial parent must be included on the FAFSA.

Approximately 30% of all applications each year will be selected by the Federal Processor for verification, a review process which requires documentation of select data elements of a student's FAFSA. In this review, the financial aid staff compares the FAFSA with information provided in the required verification documents. Students will be directed to the Troy Self Service portal to review their outstanding requirements. When submitted documents are reviewed, it may become necessary to request additional information. Students will be made aware of these requests via their TROY email.

The Office of Financial Aid will make corrections to the FAFSA, if necessary, as a result of verification. Students will be notified by the Federal Processor and/or our office either with a corrected FAFSA or a revised aid notification. A FAFSA that is completed correctly will not require corrections.

If your question wasn't answered here, please feel free to reach out to the Office of Financial Aid, or check our extended list of FAQs. 

Additional Questions

CARES Act

VIEW CARES ACT SPRING AMERICAN RESCUE PLAN